Zeus have acted as Joint Bookrunner to AFC Energy (AFC.L) on its £31.6m primary placing.
AFC Energy plc is the leading developer of alkaline fuel cell systems for the generation of clean energy in off-grid markets. As a key participant in the Hydrogen space, AFC Energy is targeting the transition away from diesel generation through sustainable power generation across multiple key markets, including construction, temporary power and ultra-rapid EV charging in gird constrained environments.
AFC Energy’s technology is capable of delivering electricity at commercially viable prices due to the ability to accept low grade Hydrogen which can be sourced through energy dense Hydrogen carriers such as ammonia (the second largest industrial chemical manufactured globally after sulphuric acid).
The £31.6m proceeds from the raise will be used to support the continuing development of the Company as it moves from the development phase of its products and technology into manufacturing and commercialisation.
Dominic KingHead of Corporate Broking, Zeus
The Zeus team are delighted to be able to help AFC Energy with their recent £31.6m fundraise, with the introduction of a number of new, high-quality institutional investors to the register. This puts AFC Energy in a very strong position to capitalise on the opportunities presenting themselves within the sustainable power market both now and going forward.
If you would like further information, please get in touch with our team.
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